Analysts Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Target Price at $18.89

Huntington Bancshares Incorporated (NASDAQ:HBAN) has received a consensus rating of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.2368.

HBAN has been the topic of several analyst reports. DA Davidson increased their target price on Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Morgan Stanley raised their price objective on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Jefferies Financial Group raised their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Wolfe Research raised Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently made changes to their positions in HBAN. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares during the second quarter valued at about $25,000. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the second quarter valued at about $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at about $29,000. Quarry LP boosted its stake in shares of Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after purchasing an additional 814 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Huntington Bancshares during the second quarter valued at about $30,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

HBAN opened at $17.21 on Friday. The firm has a market cap of $25.11 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average is $17.12 and its 200-day moving average is $16.02.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is 45.93%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.